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PTC India reported an 8% YoY growth in standalone net sales for Mar 17 quarter to Rs 3111.69 crore. OPM however was lower by 70 bps to 2.9% which resulted in de-growth in OP by 14% to Rs 90.31 crore. Other income was higher by 218% to Rs 75.96 crore for Mar 17 quarter. Interest costs was higher by 160% to Rs 44.77 crore and depreciation was down by 11% to Rs 0.77 crore. There was and EO loss of Rs 37.52 crore for Mar 16 quarter relating to provision on diminution in the value of investments as compared to Nil for Mar 17 quarter. Thus, PBT after EO was higher by 66% to Rs 120.73 crore. After providing total tax of Rs 41.93 crore up by 12%, PAT for the Mar 17 quarter stood at Rs 78.80 crore, up by 122% YoY.
Deepak Amitabh, CMD PTC India said, "First tangible signs of group business strategies working in synergy; that is the essence of our performance during the year. The small steps taken during the last 3-4 years are now converting to revenue flows and shareholder value. The foundations that were built by PTC and its subsidiaries over a long horizon are now showing up as reliable and worthwhile building blocks for the future."
Performance for the 12 months ended Mar 17
For the 12 months ended Mar 17, net sales were up by 11% to Rs 14074.83 crore. OPM was lower by 20 bps at 2.2% which resulted in OP of Rs 308.34 crore, up by 2%. Other income was higher by 29% to Rs 237.99 crore. Interest cost was higher by 31% to Rs 134.59 crore. Depreciation was lower by 23% which resulted in a PBT growth of 7% YoY to Rs 409.03 crore. There was an EO loss of Rs 37.52 crore for FY 16 relating to provision for diminution in the value of investments. Total tax stood at Rs 118.14 crore, up by 8% which resulted in a PAT growth of 24% to Rs 290.89 crore, for the 12 months ended Mar 17.
Other updates
Total volumes traded in Mar 17 stood at 48.32 Billion Units (BU), up by 14% YoY.
PTC's contract for supplying 250 MW to Bangladesh has been extended for 6 months from 1st Feb, 2017 to 31st July, 2017
PTC will be the trading partner responsible for purchase and sale of power from wind power projects for the first ever auction conducted by SECI. The price discovered (from 5 projects constituting 1050 MW) is fixed at Rs. 3.46/unit for 25 years.
PTC Energy Limited (PEL) executed 5 wind power projects aggregating to 238.8 MW in AP and Karnataka. PEL's total portfolio capacity now stands at 288.8 MW
The company declared a dividend of Rs 3 per equity share of face value of Rs 10 each.
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